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Everyone wants to secure their future financially. Although there are lots of financial plans, which promises to protect your future, the best way to make your future safe against any kind of uncertainty is insurance. There are varied products in the market which can be taken to secure any particular risk. Those days are gone when there were only few insurance plans like life, auto and general insurances.

The question is, do we really need all such insurances? Of course not. One has to be very selective in what he needs and what he purchases.

Here is a list of insurance products that should be avoided if there is no necessity.

Flood & Earthquake

These types of natural calamities happen rarely. Even if flood occurs in rainy season, the area is specified and is not across the country. So, people living in flood-prone areas may think of taking such policies but for others it is useless.

Kidnap & ransom

Kidnap and ransom insurance covers the risk of ramsom payment to kidnappers. Though all companies don’t provide these policies, a few companies do have such plans. The risks covered under such policies are very uncertain. The chance of such an occurrence of this type of risk is negligible and that too restricted to terror affected areas.

Credit Card Loss

Almost all the credit card companies or banks nowadays provides for the security against such losses. They immediately block the card on receiving information about such loss of card. So, taking Credit Card Insurance should be avoided.

Specific Diseases

A good health policy covers all major diseases. They also provide for regular health checkups, accidental treatments, critical illness, etc. So, any policy, which is meant to cover any specific disease or disease, which is not normally covered under health policies, should be avoided.

For the aged

Most companies, including the specialised health insurance company do not cover people above 50 years. There is no such product available in the market which completely covers aged or senior citizens.

All products for them are very rigid in terms and conditions and costly too. Even if